How to open a bank account in Canada
Quick summary
Pick the account, read the agreement and prove who you are with the ID the bank accepts. Some banks let you start online, but you may need to visit a branch, so ask first. Next step: compare chequing and savings accounts.
Checked November 7, 2026. Main source: Financial Consumer Agency of Canada, Online banking (modified October 17, 2025). Checked November 11, 2026.. See all 4 sources.
The steps
- Choose the account. Think about how you will use it, the fees, the interest and whether your deposits are insured.
- Read the account agreement. Ask about anything unclear and keep a copy.
- Confirm who you are. The bank must check your identity before it opens the account.
- Visit a branch if the bank asks you to. Contact the bank to check.
Source: Financial Consumer Agency of Canada, Opening a bank account. Checked November 2, 2026.
ID banks accept
Bring original documents, not copies. You can use one of two options.
- Option 1: two documents. One shows your name and address. One shows your name and date of birth.
- Option 2: one document with your name and date of birth, plus someone who confirms your identity, such as a bank customer in good standing or a person of good standing in your community.
- Documents that can count include government photo or other ID, tax notices, benefit statements, Canadian utility bills, bank or credit card statements and foreign passports.
- Banks may accept other ID in some cases. Non-citizens and people living outside Canada can open an account with proper ID.
Source: Financial Consumer Agency of Canada, Opening a bank account. Checked November 2, 2026.
What is the minimum age to open a bank account in Canada?
There is no official minimum age in the pages we read. Each bank makes its own rules for youth accounts, so ask the bank before you go.
FCAC says people who are 18 years old or younger can qualify for a no-cost account with no monthly fee. Students can qualify too.
Source: Financial Consumer Agency of Canada, Opening a low-cost or no-cost bank account (modified October 29, 2026). Checked November 7, 2026.
What about opening online?
The official account opening page does not describe an online process. It says you may need to go to a branch. Many banks do offer online applications, so check your bank's own page.
If you already bank with an institution, the FCAC's online banking page says online banking can let you open a new account there. You first need to register for online banking, which our guide explains.
If you open an account by phone, you have 14 business days to close it free of charge, and the bank must refund the fees you paid except interest charges. Ask what applies if you open another way.
Sources: Financial Consumer Agency of Canada, Opening a personal bank account: your rights (checked November 2, 2026); Online banking (modified October 17, 2025, checked November 11, 2026).
What the bank must tell you
- A copy of the account agreement.
- A list of all charges.
- The interest rate, if there is one, and how it is worked out.
- Its maximum cheque hold periods, in writing.
- When it will send you electronic alerts.
Questions people ask
What ID do I need to open a bank account in Canada?
Two original documents, one with your name and address and one with your name and date of birth. Or one document plus a person who confirms your identity.
Can I open a bank account online in Canada?
The Financial Consumer Agency of Canada says you may need to visit a branch. Many banks offer online applications, so check with the bank.
What is the minimum age to open a bank account in Canada?
The official pages we read do not give one. Each bank sets its own rules for youth accounts, so ask the bank. FCAC says people 18 years old or younger can qualify for a no-cost account.
Can a newcomer open a bank account?
Yes. Non-citizens can open an account with proper ID.
What if I open an account by phone?
You have 14 business days to close it free of charge, and the bank must refund the fees you paid except interest charges.